Planning for Profitability program for farmers and agribusinesses
One-day program will focus on planning ahead while facing shrinking margins in production agriculture
ORANGE CITY, Iowa – Iowa State University (ISU) Extension and Outreach invites local farmers and agribusiness professionals to attend a free one-day Planning for Profitability workshop in either Rock Rapids or Decorah.
Iowa State University (ISU) Extension and Outreach will host a Financial Impairment on the Farm webinar from 12:00 noon to 1:00 p.m. on July 30. The webinar is free and open to all those involved in production agriculture, specifically, producers and agri-business personnel.
The I-29 Moo University is hosting a webinar on Thursday, December 20 that will focus on preparing the information that lenders will ask for. The “Improving Conversations With Your Lender” webinar will outline and explain the banking benchmarks and financial documents that lenders need to evaluate loans. The webinar is scheduled for 60 minutes beginning at 11 a.m. and will include time for questions at the end of the webinar.
Quick Facts About Dairy Revenue Protection (Dairy RP)
Dairy RP is a new RMA-backed crop insurance product which allows you to protect against falling milk prices.
Dairy RP is subsidized from 44% to 59%. The 95% coverage level will receive a 44% subsidy.
Dairy RP can be purchased any business day except holidays and 3 USDA dairy report days per month.
There are no milk production limits.
Premium due at end of the quarter.
It can be used even if you have MPP.
The pricing options include Class III, Class IV and components.
You can buy quarterly coverage for 5 quarters. For example, the first 5 quarters offered will be: Jan, Feb, Mar 2019 — April, May, June 2019 — July, Aug, Sept 2019 — Oct, Nov, Dec 2019 and Jan, Feb, Mar 2020.
At the Siouxland Agricultural Lenders Seminar on November 1, we surveyed the participants on what they were seeing in their ag loan portfolios in light of the current ag economy. The 58 attendees were from five states represented 20 lending institutions and 13 other ag industries. More importantly they represented service to over 500 dairies, 317,725 milking cows and 108,400 acres producing feed for those cows.
Ag lenders from across Iowa, Minnesota, Nebraska and South Dakota heard top professionals in commodity markets, weather prediction, enterprise evaluation and federal policy share their insights on November 2 in Rock Rapids, IA.
Forty-one lenders from four states, representing 14 lending institutions plus four other industries attended. From those that returned program evaluations their attendance translated to 65 dairies, 69,725 milking cows and 97,400 acres producing feed for those cows.
The deadline to register for the Siouxland Dairy Lender’s Seminar is Friday, October 27. The seminar will be held on Thursday, November 2 at the Forester Community Center in Rock Rapids, Iowa. Lenders who serve agricultural clients and especially lenders who work with dairymen in Iowa, Minnesota, Nebraska and South Dakota are encouraged to attend. This year’s focus is on market outlooks for livestock, grains and dairy, long-term weather influences for agriculture plus dairy finances and ag policy.
The list of nationally recognized presenters include; David Oppedahl, Senior Business Economist, Federal Reserve Bank of Chicago presenting “A Fed’s Look at Dairy Economics”; Larry Tranel, ISU Extension Dairy Specialist presenting “Millionaire Model Dairy Farms”; Chad Hart, ISU Extension Economist presenting “Commodity Market Review and Outlook”; Harry Hillaker, Iowa Climatologist presenting “Agricultural Weather Outlook”; and Robert Tigner, UNL Extension Educator presenting “Dairy Market Review and Outlook”.
The cost of the program is $80 for the first person from an institution and $50 for each additional person that have made the registration by October 27. After that date, including at the door all registrations will be $100 and will not include the lunch. The program begins with registration at 9 am, with programs running from 9:30 am to 4 pm. To register, contact the Sioux County Extension office at 712.737.4230 or email Fred M. Hall at email@example.com for registration information.
The September 2017 milk production budgets for Iowa and Nebraska compiled by UNL Extension Educator Robert Tigner showed very little change in the budgeted breakeven price for Sept 2017 compared to August. All of the following comparisons will be utilizing the 20,000 pound freestall budget. Total income declined by $0.104 per hundredweight but feed cost declined too, 8.55 cents per hundredweight. Total variable costs were down at 8.7 cents per hundredweight. Return to management declined by 1 cent per hundredweight to $1.81.
Even though the PPD and butterfat prices were lower month over month, BF and protein test rose which offset the loss of component prices.
His detailed report can be found by clicking here:
For over a month I have been working on the first Siouxland Dairy Lenders Seminar in November and have talked to lots of lenders; most are excited to have this program in their “backyard” and like the idea of getting the most current market updates and perspective from industry leaders. But they also pointed out that as they progress toward annual reviews with borrowers, there are things that dairymen can do before the meeting that help make the annual task move smoother.
All agricultural lenders will receive useful information during the Siouxland Dairy Lender’s Seminar on Thursday, November 2 at the Forrester Community Center in Rock Rapids, Iowa. Lenders who serve agricultural clients and especially lenders who work with dairymen in Iowa, Minnesota, Nebraska and South Dakota are encouraged to attend. This year’s focus is on market outlooks for livestock, grains and dairy, long-term weather influences for agriculture plus dairy finances and ag policy. The program begins with registration at 9 am, with programs running from 9:30 am to 4 pm.